He said the Prime Minister should take stock of the situation and direct the OCAC to not only revise oil prices downward immediately but also ensure presence of government as well as private sectors' representatives to the Committee before next meeting of the OCAC.
A spokesman of PSMA said this here on Tuesday that government should take notice of monopolistic approach of the OCAC. The Prime Minister Shaukat Aziz had already promised to check while raising his concerns over the absence of any government representative in the OCAC.
Zaka said international oil prices had substantially come down from over dollars 70 earlier to around dollars 60 and dollars 58 at present but the OCAC had not passed on any relief to the consumers. Simply capping prices to the previous level did not match with international situation of oil, he said.
Chaudhry Zaka further said that crushing season in the country was about to start, which demanded substantial cut to the oil prices to bring production cost of the industry down.
Similarly, he said high oil prices also burdened the sugarcane farmers and the Agro economics, as it played vital role in transportation of sugarcane from farm to mill. High transportation and production cost would ultimately affect the general consumers by the end of the day, that were already overburdened, he stressed.